A MINOR MAY USE SUPPLEMENTARY CARD OF A DEBIT CARD WITHOUT WRITING PERMISSION
On December 25, 2019, the Governor of the State Bank of Vietnam promulgates the Circular No. 28/2019/TT-NHNN on amending and supplementing a number of Articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the State Bank Governor on bank card operations.
Accordingly, the State Bank repeals provision that a minor may only use supplementary card of a debit card, credit card or prepaid card when having the permission in writing of his/her legal representative under law on the usage of cards. Specifically, any person who is 15 to less than 18 years of age and does not have lack of civil act capacity or limited civil act capacity is permitted to use supplementary card of debit cards, credit cards and prepaid cards.
Besides, the State Bank also amends provision on conditions for using debit cards, credit cards and prepaid cards of organizations. To be specific: Organizations eligible to open liquidating account are allowed to use debit cards. Organizations being juridical persons shall be permitted to use 03 kinds of card mentioned above. The cardholder being organization may authorize a person to use the organization’s card on its behalf or use supplementary card.
In addition, this Circular also amends and supplements other contents of the Circular No. 19/2016/TT-NHNN such as the principle of card usage, the security of the usage, checking and handling complaints during the card usage...
This Circular takes effect on April 01, 2020.
